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GBP/USD set to rally past the March high at 1.4018 – Commerzbank

Dollar weakness is led by the pound. The GBP/USD pair has advanced as high as 1.3976 and the attention is on the 1.4018, the March high, Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, reports.

A slip below the uptrend at 1.3707 is not favoured

“GBP/USD is holding steady above the 20-day ma at 1.3845 and attention is on key resistance, which remains 1.4018, the March high.”  

“Near term dips are expected to be shallow and an upside bias is preserved above the uptrend at 1.3707.”

“A close above 1.4018 will target 1.4238/45, the recent high and the March 2018 high.”

 

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